News

Lloyds TSB’s Eric Daniels on his plans for HBOS

Eric Daniels is admiring the spectacular view from Archie Kane's office on the top floor of Scottish Widows' Edinburgh head-quarters. But as the chief executive of Lloyds TSB gazes across to Edinburgh Castle and the Firth of Forth, Widows' boss Kane admits he's had plenty to distract him from the sights in the last few weeks.

Indeed he has. Since Lloyds TSB and HBOS announced plans to merge in September, Kane has headed the team looking at bringing the two banks together and when it finally combines, he will head its Scottish operations.

In addition, he's had to fend off accusations of selling Scotland short and attempts to thwart the merger plans. Tomorrow the Merger Action Group will try to persuade the Competition Appeal Tribunal that the government acted unlawfully in putting aside normal competition law.

Daniels, however, is confident the efforts by MAG will not succeed. "I am no